Dealer Training launches Subprime Workshop

Dealer Training launches Subprime Workshop

Published November 2013

GM Financial's Dealer Training Department has launched subprime workshops for dealer principals, sales managers, F&I managers and sales personnel as a complement to its existing leasing workshops. The Subprime Workshop focuses on approaching subprime consumers through a modern lens, including understanding who is subprime and why; benefits of engaging subprime customers; and strategies for integrating a subprime focus into sales processes. Many successful dealers are realizing the importance of maximizing these opportunities by paying attention to the subprime demographic, understanding their needs, and learning more about this type of consumer.

"With more than 41 percent of Americans in the subprime bucket, it's simply too big of a market to ignore," said Josh Blevins, Dealer Training consultant manager. "We want to help dealers re-engage in practices that have been successful in the past, like subprime and leasing."

The GM Financial Dealer Training team provides intensive, on-site training across the U.S. to help dealerships refine their focus and approach with subprime customers while helping drive additional leads and opportunities. Topics range from understanding compliance and regulations, to enhancing the overall buying experience to improve customer satisfaction index (CSI) scores, and integrating social media for increased exposure.

"There is a shift in automotive sales where salespeople are transforming into sales consultants. This shift signifies consumers' desire for enhanced car buying experiences where they're given options and personal advice throughout the sales process," said Blevins. "Through our training, we give dealers effective tools and implementable strategies for improving the sales experience for subprime consumers."

GM Financial's Dealer Training consultants have extensive dealership experience, which means they understand the various departments within dealerships and offer customized support for each. For the sales professional, in-dealership training includes role play scenarios in order to anticipate customer interaction and control the selling situation. For the sales desk, training reinforces the short- and long-term benefits of subprime customers through effective lead generation and tracking processes. For the finance department, F&I-specific training focuses on streamlining the funding process. Finally, for the accounting office, training centers on fast funding through checklists and expedient documentation processes.